Mr. Read said AstraZeneca’s management would not engage with Pfizer unless they offered £59 per share. Pfizer’s final bid was £55 ($92.58) a share

Under U.K. takeover laws, Pfizer is prohibited from bidding for AstraZeneca until late November. Mr. Read declined to comment further on whether Pfizer would consider another bid for AstraZeneca once that six-month waiting period ends. Should AstraZeneca be open to a deal, it could approach Pfizer in late August under U.K. law.

Mr. Read said that Pfizer is continuing to evaluate other potential deals, including so-called inversion deals that could lower the company’s tax rate. Mr. Read touted the company’s “substantial financial ability and balance sheet” and said Pfizer is looking at a “very wide spectrum of M&A.”

In an interview with the WSJ, Mr. Read said American companies are at a “competitive disadvantage” with foreign rivals who enjoy lower tax rates and more favorable tax rules. He urged U.S. lawmakers to fix the disparity, which he says affects the ability of U.S. companies to compete against foreign competitors and to hire in the U.S. ”